Michael Hurup Andersen
Podcast appearances as guest
Launching Kompasbank with Michael Hurup Andersen (Episode 41)
In this episode, I sit down with Michael Hurup Andersen, CEO and founder of Kompasbank.
On the podcast
Michael has worked in finance for almost 25 years in Copenhagen, London and New York, starting with about ten years at Saxo Bank.
Michael founded Kompasbank in 2018; it received its banking licence in 2021 and began onboarding customers on 1 January 2022.
Kompasbank serves small and mid-sized enterprises.
Kompasbank's values are agility, commitment and impact.
Kompasbank has raised money continuously from 2018–19 through 2025 and has around 65–80 people.
Kompasbank builds its technology to change rather than to last, owning the customer and experience while assembling technology from third parties.
Around 2015–16, incumbents dismissed new banks while millions of customers moved to them, and technology finally made composable banking possible.
Investors should not expect solo founders to reach tens of millions in revenue; capital does most good at later stages.
The Nordics are three to five years ahead of other European markets on digitisation and one to two years ahead on AI adoption.
Financial services need several strong players, not one winner, for resilience, choice and innovation.